THE ROLE OF INFORMATION SYSTEMS IN RISK MANAGEMENT
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- NGN 3000
THE ROLE OF INFORMATION SYSTEMS IN RISK MANAGEMENT
Abstract: This study aimed to explore the role of information systems in enhancing risk management within organizations. The objectives were to investigate how information systems improve risk identification, assessment, mitigation strategies, and crisis response preparedness. A survey research design was employed to collect quantitative data from 280 respondents, selected using the Taro Yamane formula to ensure representation across industries emphasizing risk management practices. The study focused on a case study of an insurance company in Kaduna, known for its integrated risk management information systems (RMIS) and proactive risk mitigation strategies. Conducted in Kaduna, the reliability coefficient score was calculated at 0.89, indicating strong internal consistency in survey responses. The findings highlighted that RMIS integration enhances risk visibility, enables real-time monitoring of risk exposures, and supports compliance with regulatory requirements. The study recommends that organizations invest in RMIS solutions, integrate predictive analytics for risk assessment, and conduct regular training and simulations to enhance organizational resilience and mitigate potential risks effectively.
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